Annual Report 2014


Operating expenses

Varma used 75 (76) per cent of the expense loading, included in the pension insurance contributions, to cover operating expenses. Controlling operating expenses is a key objective while simultaneously improving operational efficiency. Good operational efficiency benefits Varma’s customers by means of client bonuses. Varma’s goal is to manage the assets of both present and future pensioners as efficiently as possible. 


In addition to economies of scale, increasing efficiency also requires continuous control of human resources and, in particular, IT system expenses, as these account for most of Varma’s operating expenses. Overall operating expenses remained at the previous year’s level, totalling EUR 142 (143) million. 

Varma is actively involved in the administration of the pension sector’s joint information systems and expects transparency and efficiency in terms of costs.